Egypt Strengthens Partnership with U.S.

This article was first published on Year of Energy’s website here 

Egyptian Minister of Petroleum, H.E. Tarek El-Molla, has announced that his ministry recently managed to attract major U.S. companies to operate in the country’s petroleum and gas exploration sectors, including Chevron Corporation and ExxonMobil.

The minister applauded ExxonMobil for diversifying its operations and investments in Egypt after winning an exploration bid of a Mediterranean concession.

He also acknowledged the importance of the strategic partnership between Egypt and the U.S. in the petroleum and gas industry, as well as the role it plays in promoting bilateral economic relations.

Egypt has become one of the top natural gas producers in the Middle East and North African by stabilizing gas exportation and recording the highest output in August with 1.9 million barrels per day.

The country’s petroleum and gas industry has made significant progress in previous five years – thanks to the government’s economic reform program and membership to the Gas Exporting Countries Forum (GECF) – which has contributed to an increased appetite in investment.

The 2019 meeting of the GECF, featuring ministers and heads of state from all GECF nations will be hosted in Equatorial Guinea, on November 27, 2019. The GECF will present the 2nd International Gas Seminar at the Sipopo International Conference Hall as part of the 5th GECF Summit of Heads of State and Governments. Get access to the Seminar by registering here.